A century-old pillar of the Philippine coconut industry, Franklin Baker Co., has a new owner. Metro Pacific Coconut Holdings Corp. (MPCH) has finalized the acquisition, signaling a potential turning point for the company and the thousands of farmers it supports.
For years, Franklin Baker, established in 1921, struggled with export delays and operational hurdles. This acquisition isn’t just a business deal; it’s a lifeline aimed at restoring the company to full production capacity and setting the stage for sustained growth.
The move promises to fortify a vital link in the coconut supply chain. By integrating Franklin Baker into its portfolio, MPCH intends to create a more stable and efficient industry, directly benefiting Filipino farmers and the communities dependent on coconut production.
Franklin Baker’s facilities, strategically located in Laguna and Davao, produce a diverse range of coconut products. These include desiccated coconut, coconut water, virgin coconut oil, and coconut cream – staples in global food markets.
MPCH envisions a broader transformation of the agricultural landscape. Their strategy centers on combining infrastructure, innovative technology, financial investment, and expanded market access to unlock value throughout the entire supply chain.
Improving the livelihoods of coconut farmers is a central tenet of this plan. MPCH aims to not only increase incomes but also champion sustainable practices and contribute to the nation’s food security goals.
With renewed support, the focus will be on streamlining operations and strengthening sustainability efforts. Leveraging the combined resources of MPCH and Franklin Baker will empower local farmers and enhance their position in the market.
This acquisition builds upon MPCH’s earlier investment in Axelum Resources Corp. Together, these two entities now represent a formidable force in the Philippine coconut industry, controlling nearly 70% of the country’s food-grade coconut exports.
The combined processing capacity of these two firms is staggering – over two million coconuts processed daily. This scale allows for significant influence and the potential to reshape the industry’s dynamics.
The outgoing investor in Franklin Baker expressed optimism about the future. They believe MPCH’s involvement will inject new energy and resources into the coconut sector, fostering innovation and growth for years to come.
